The Best Mortgage Lenders in Sterling, VA
Compare verified mortgage lenders serving Sterling, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Sterling
Featured Mortgage Lenders
John Marshall Bank
John Marshall Bank
John Marshall Bank is a highly-rated community bank with deep roots in Northern Virginia, serving Sterling and Loudoun County for over 15 years. Known for its personalized approach and competitive mortgage rates, the bank has built a strong reputation for reliability and customer satisfaction. With a focus on local relationships and a wide range of loan products, they offer tailored solutions for homebuyers, backed by extensive experience and positive reviews from the community.
Loan Types:
EagleBank
EagleBank
EagleBank has been a trusted regional lender in the Washington D.C. metropolitan area for over two decades, consistently serving Sterling with competitive mortgage options and exceptional customer service. Their long-standing presence and commitment to the local community make them a top choice, offering a diverse portfolio of loan types and a reputation for transparency and efficiency. Customers praise their responsive support and ability to handle complex mortgage scenarios.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a nationally recognized lender with a strong local presence in Virginia, including Sterling, known for its fast closings and high customer satisfaction ratings. With over 15 years of experience, they specialize in streamlining the mortgage process and offering competitive rates across various loan types. Their dedication to community engagement and efficient service has earned them numerous positive reviews, making them a reliable option for homebuyers in the area.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Sterling, VA
What are the current mortgage rates like in Sterling, VA, and how do they compare to the national average?
Mortgage rates in Sterling typically align closely with national averages but can be slightly influenced by the competitive Northern Virginia market. As of recent trends, rates in this high-demand area may be marginally lower due to strong lender competition, but they are still subject to broader economic factors like Federal Reserve policy. It's advisable to compare offers from both local credit unions, like Apple Federal Credit Union, and national lenders.
Are there any special down payment assistance or first-time homebuyer programs available specifically for Sterling, VA, residents?
Yes, Sterling homebuyers can access several Virginia state-wide programs, such as the Virginia Housing Down Payment Assistance Grant (DPAG) and VHDA loans, which are widely used in Loudoun County. Additionally, some local employers and Loudoun County may offer specific benefits for teachers, first responders, or county employees. These programs can help with down payments and closing costs in Sterling's high-priced market.
How does Sterling's location in a high-cost county (Loudoun) affect my mortgage options, like conforming loan limits?
Because Loudoun County is designated a high-cost area by the FHFA, the conforming loan limit for a single-family home is significantly higher than the national baseline—for 2024, it's $1,149,825. This means you can secure a conventional conforming loan for a much larger amount in Sterling before needing a jumbo loan, which often comes with stricter credit and reserve requirements.
What should I know about property taxes and homeowners insurance when budgeting for a mortgage in Sterling?
Sterling's property taxes are governed by Loudoun County, which has one of the highest effective tax rates in Virginia (approximately $1.00-$1.05 per $100 of assessed value). Homeowners insurance can also be slightly above average due to the region's value and weather considerations. Lenders will escrow for both, so it's crucial to factor these into your total monthly payment estimate.
Given Sterling's competitive real estate market, what mortgage strategies can help my offer stand out?
In Sterling's fast-paced market, being pre-approved (not just pre-qualified) by a reputable local lender is essential. Consider waiving the financing contingency only if you are extremely confident in your approval, and be prepared for appraisal gaps—having extra cash to cover the difference if an appraisal comes in low can make your offer more attractive to sellers.
Why Choose a Mortgage Lender in Sterling?
Local Market Knowledge
Lenders who understand Sterling's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Virginia.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Sterling and get competitive rates on your home loan.